Who’s leading the Big Data League?

 “In God we trust. All others must bring data.” – W. Edwards Deming, statistician, professor, author, lecturer, and consultant
Data is everywhere. The UK boasts 217 exabytes of it to be precise according to this year’s Digital Universe research by EMC and IDC, and this is only set to increase, looking to reach 1,311 exabytes by 2020! This data holds a lot of valuable information, especially for businesses, if only they can get to it.Today we have launched our Big Data League, testing business readiness when it comes to big data. On behalf of EMC, Opinium Research questioned 300 business and technical decisions makers in financial services, retail, IT, telecoms and media, manufacturing and the public sector, and found that despite recognition of the big data opportunity, businesses in all sectors are struggling with skills and infrastructure challenges.Results showed that 60% of organisations believe better use of customer insights, trend data and information in and around their business will be the key to unlocking the next wave of growth, however 45% have no data analytics platform experience and 62% are without the skills to understand ethical, responsible and compliant use of customer data! IT infrastructure limitations are also a key issue when it comes to holding companies back.

The self-assessment of ‘big data readiness’, which delivered an aggregate ‘score’ based on the culture and leadership, skills and infrastructure, also demonstrated much room for improvement with only 26% of organisations saying they are able to manipulate large and/or complex data sets for analysis within minutes, and only 38% of businesses recruiting data scientists or business intelligence experts.

“We’re past the point where people can write off the potential for and use of data as the responsibility of IT or an operational silo”, says James Petter, Vice President and Managing Director, UK & Ireland, EMC Corporation. “It has to be a strategic focus for the business if we are to successfully deliver a new era of accelerated growth in an uncertain, hyper-competitive market context. It’s great to see that the majority of businesses across all sectors are embracing big data analytics of some kind, but there’s clearly a long way to go before all businesses are equipped with the right skills, leadership and IT infrastructure to drive real change and new opportunities in their markets. Now is the time for businesses to invest in their people and processes to make sure that they don’t get left behind.”

Steve Duplessie, Founder and Senior Analyst, Enterprise Strategy Group Inc. adds: “We know empirically that 20% of organisations feel they have a ‘problematic shortage of existing skills’ in the area of Business Intelligence and Analytics.  We also know that companies less than 10 years old are reaping significantly more value from analytics than their older counterparts.  Traditional companies need to get moving faster in the analytics uptake, or the gaps are going to widen.”

To find out more about these research findings and the impact on businesses, visit emc.im/bigdataleague, or take a look at the infographic below. You can also join in the discussion at #BigDataLeague or follow EMC on Twitter at @EMCUKI.

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